Steel & Tube Holdings Limited today announced at the Company''s Annual Meeting
in Wellington that after 17 years as Managing Director and Chief Executive
Officer, Mr Nick Calavrias will step down in early 2009 as part of an orderly
transition.
In making the announcement the Company''s Chairman, Mr Dean Pritchard thanked
Mr Calavrias for his outstanding contribution in leading Steel & Tube firstly
through a period of major restructuring involving divestment of unwanted
businesses in the early to mid nineties, and then building the Company into
being today the market leader in steel distribution in NZ.
" Nick has demonstrated enormous commitment to the Company throughout his
tenure and has lead the development of the distinctive culture which brings
together customer service values and sound business governance. The safety
culture and resultant performance, the quality of the people throughout the
Company and the corporate positioning of Steel & Tube are a direct
consequence of his vision and drive."
Mr Calavrias said "After 17 years as CEO of Steel & Tube, and 42 years in the
steel industry, it is time for me to move on to other things, and to
facilitate a transition to new leadership for the Company. I am very proud
of the success of the Company and value greatly the enduring relationships
that I have developed."
The Board has initiated an executive search process, and expects that a
handover will be achieved by the end of April 2009.
End CA:00172811 For:STU Type:OFFICE Time:2008-11-13:12:00:16